Media Luanda on June 20 reported that the Organization of Petroleum Exporting Countries (OPEC) President Jose de Vasconcelos 6 on 18 in the media here said that 70 U.S. dollars per barrel of oil is the oil-producing countries, whether for consumption or for oil States are at a satisfactory price.
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
